Ahead of the upcoming Medicare Open Enrollment beginning October 15, the Centers for Medicare & Medicaid Services (CMS) is releasing key information, including 2023 premiums and deductibles for Medicare Advantage and Medicare Part D prescription drug plans, to help Medicare enrollees determine the best coverage for their needs. “Today we’re delivering on our commitment to reduce health care costs for Americans, including 64 million people with Medicare,” said HHS Secretary Xavier Becerra. “Thanks to President Biden’s Inflation Reduction Act, millions of Medicare enrollees will have lower prescription drug costs and improved benefits when they sign up this year. We will continue working to strengthen Medicare to ensure everyone gets the high-quality, affordable care they deserve.” “The Inflation Reduction Act will provide much needed financial relief and increase access to affordable drugs,” said CMS Administrator Chiquita Brooks-LaSure. “It is more important than ever for people to review their health care coverage and explore their Medicare options during Open Enrollment this year.” Enrollment in Medicare Advantage — private health plans that cover all Medicare Parts A and B benefits and may provide additional benefits — continues to increase. Projections indicate enrollment will reach 31.8 million people in 2023. The projected average premium for 2023 Medicare Advantage plans is $18 per month, a decline of nearly 8% from the 2022 average premium of $19.52. Medicare Advantage plans will continue to offer a wide range of supplemental benefits in 2023, including eyewear, hearing aids, preventive and comprehensive dental benefits, access to meals (for a limited duration), over-the-counter items, and fitness benefits. In addition, more than 1,200 Medicare Advantage plans will participate in the CMS Innovation Center’s Medicare Advantage Value-Based Insurance Design (VBID) Model in 2023, which tests the effect of customized benefits that are designed to better manage diseases and meet a wide range of health-related social needs, from food insecurity to social isolation. The benefits under this model are projected to be offered to 6 million people. The VBID Model’s Hospice Benefit Component, now in its third year, will also be offered by 119 Medicare Advantage plans in portions of 24 states and U.S. territories, providing enrollees increased access to palliative and integrated hospice care. Medicare Advantage plans participating in the Hospice Benefit Component will implement strategies to advance health equity across all aspects of their participation. CMS continues to improve options for enrollees who are dually eligible for Medicare and Medicaid. For example, in 2023, CMS will begin to require all Medicare Advantage dual eligible special needs plans (D-SNPs) to establish enrollee advisory committees and consult with those committees on various issues, including improving health equity for underserved populations. Additionally, new policies related to cost sharing are estimated to increase payment from MA plans to providers serving dually eligible individuals who incur high costs. As previously announced, the average basic monthly premium for standard Part D coverage is projected to be $31.50, compared to $32.08 in 2022. The Medicare Part D program helps people with Medicare pay for both brand-name and generic prescription drugs. Medicare Open Enrollment — Important Dates & Resources Medicare Open Enrollment runs from October 15 to December 7, 2022. During this time, people eligible for Medicare can compare 2023 coverage options on Medicare.gov. Medicare.gov provides clear, easy-to-use information, as well as an updated Medicare Plan Finder, to allow people to compare options for health and drug coverage, which may change from year to year. Medicare Plan Finder will be updated with the 2023 Medicare health and prescription drug plan information on October 1, 2022. 1-800-MEDICARE is also available 24 hours a day, seven days a week to provide help in English and Spanish as well as language support in over 200 languages. People who want to keep their current Medicare coverage do not need to re-enroll. During Open Enrollment, people with Medicare who take insulin are encouraged to call 1-800-MEDICARE or contact their State Health Insurance Assistance Programs (https://www.shiphelp.org/) for help comparing plans and costs this year. To help with their Medicare costs, low-income seniors and adults with disabilities may qualify to receive financial assistance from the Medicare Savings Programs (MSPs). The MSPs are essential to help millions of Americans access high-quality health care at a reduced cost, yet only about half of eligible people are enrolled. The MSPs help pay Medicare premiums and may also pay Medicare deductibles, coinsurance and copayments if people meet the conditions of eligibility. Enrolling in an MSP offers relief from these Medicare costs, allowing people to spend that money on other necessities like food, housing or transportation. Individuals interested in learning more can visit: https://www.medicare.gov/your-medicare-costs/get-help-paying-costs/medicare-savings-programs. ![]() |
Medicare Blog | Medicare News | Medicare Information
Biden-Harris Administration Announces Lower Premiums for Medicare Advantage and Prescription Drug Plans in 2023
Posted by www.psmbrokerage.com Admin on Fri, Sep 30, 2022 @ 08:53 AM
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Tags: Medicare Advantage, Medicare Part D, CMS
The Art of Storytelling in Sales
Posted by www.psmbrokerage.com Admin on Thu, Sep 29, 2022 @ 04:10 PM
Obviously most sales professionals feel they do this successfully. In reality many don’t. Let’s turn that around. 10 items to think about before telling a storyBelow are 10 items to think about before telling a story: 1.) Sales Storytelling can help you with your remarkable message if done properly. 2.) Storytelling should not be confused with rambling on various subjects not specific to 3.) Storytelling makes the recipient, potential customer, more relaxed. 4.) Sales Storytelling should never include items that you wouldn’t tell your grandma
5.) Make sure you get to the point quickly. 6.) Never one-up the recipient with a “better” story. Very challenging for me personally. 7.) Never start a meeting with a story when you were just told there was a time 8.) Storytellers do close more deals. 9.) Keep age, religion, and politics out of your storytelling process if at all possible. 10.) Do not embellish. Well at least not too much. There are those out there that may Sales Storytelling is more of a practiced art than most understand. It really is something that a sales professional needs to think about and practice prior to usage. Sales storytelling is a key tool in closing dealsTake some time to perfect your craft. If you feel you’re a less than accomplished storyteller don’t fluff this off as unimportant. It can be a powerful tool that most likely will help you get to that next level desired. ![]() |
Tags: sales advice, Sales Strategies, sales ideas
How to Improve Your Sales Skills
Posted by www.psmbrokerage.com Admin on Thu, Sep 29, 2022 @ 03:49 PM
The skills you need to improve your sales include:
Before we look at each of the primary skills that make great salespeople, it's important to recognize that selling is a craft. The only way you can improve your results is through practice, and studying what works, what doesn't, and when and how to use certain strategies, tactics, and conversations. When working to improve in any endeavor, it’s necessary to develop skills that support the outcomes you need. Selling is a series of conversations. The greater your skills, the better these conversations will be, and the more they help the client improve their outcomes. You have to practice these skills to learn them. Gaining CommitmentsThe first outcome a salesperson needs to create is a first meeting, so the first skill of a great salesperson is the ability to obtain a commitment from a prospective client. Every step forward requires you to gain another commitment from your contacts. In the Lost Art of Closing: Winning the 10 Commitments That Drive Sales, you will find 10 different commitments that allow you to facilitate the client's buyer's journey. This starts with the commitment for time, exploring change, committing to change, collaborating, building consensus, investments, reviewing solutions, resolving concerns, deciding, and executing. In this book, you will find the Trading Value Rule, which helps your clients commit to the next step. You can improve your sales skills by practicing and improving your ability to gain commitments. Scheduling a First MeetingThe goal of prospecting is creating a first meeting, which requires picking up the phone and calling a stranger. Those who do well at booking meetings are not conflict averse and don't worry much about the occasional grouchy person hanging up on them. They have the thick skin that prevents them from believing they were personally rejected. Salespeople who are skilled at scheduling a first meeting trade value for the client's time. When a contact refuses the meeting, the salesperson gently restates the value the client will receive by taking the meeting. They are also skilled at addressing the client's concern that a meeting will be a waste of time. Improving this skill means making many hundreds of calls and becoming immune to any negative outcomes. By practicing each day, you'll improve your sales results. Creating Value in the Sales ConversationThis is a higher hurdle to clear. It's also the most important skill when you are sitting across the table from your contacts. To enable this skill, you must bring business acumen to a conversation with your clients. When we talk about creating value, your primary goal is to educate your clients on a key aspect of their business. While your ultimate goal is helping the client make the best decision for their business, you achieve this through a series of business conversations. This sales skill is the one to rule them all. If you are unable to create value for your clients in a sales conversation, improving your outcomes is close to impossible. This higher-level skill requires that you study the modern sales approach and possess the insights that your contacts find valuable. This skill is one you must practice every day, in every sales call. It is more difficult to acquire, but by studying, you can improve faster. Diagnosing Client ScenariosYour client has problems and challenges. What once worked for them now fails. They are uncertain about what to do or who to work with to turn things around. The person who can explain why the client has the problems that harm their results will grab their attention. Following that explanation, a highly skilled salesperson will diagnose the root cause of the problem and what the client will need to do to improve their results. Having practiced this for years, you will find that, at some point, you can immediately recognize the pattern that allows you to assess the scenario in a blink of an eye. The education you develop over hundreds of meetings with your clients adds up, making you a sort of expert in the different client scenarios you encounter over time. Modern StorytellingThere are a lot of people who believe the stories salespeople tell should be about their company and all the ways they have helped their clients. While these stories are sometimes helpful, modern storytelling is about the external environment and its impact on the client's business. It also tells a story about what works now, what doesn't, and why. These stories depend on business acumen and a perspective that helps clients learn and understand how to turn things around. One way to think about your stories is that you are making sense of your clients’ world and how to best address their challenges. These stories carry more weight than some of the legacy stories about your company and your solutions. NegotiatingIn many deals, improving your sales skills will require you to negotiate with your contacts, even the nice ones who must do right by their company and ask for a discount or concession. When you are new to sales, you might fear that pushing back will cause you to lose deals. By improving your skills over time, you will learn to ask for something valuable in exchange for whatever you give your new client. Like all the skills here, the only way to acquire them is to practice. Selling isn't something that you can learn from books alone. Reading can help you get started, but you need to practice to improve your skills. ![]() |
Tags: sales advice, Sales Strategies, sales ideas
Cigna Brokers can earn an additional $50 per enrollment
Posted by www.psmbrokerage.com Admin on Thu, Sep 29, 2022 @ 02:36 PM
Brokers can now earn up to $50 for submitting digital applications and collecting the customer’s email address We are so excited to share Cigna's new value based enrollment (VBE) program for new to Cigna customers starting with January 1, 2023 effective dates and forward! With Cigna's new program, you will receive additional payments when you submit digital applications and capture important customer information at the point of sale. It’s easy to make additional money with Cigna Medicare! Follow the steps below to earn up to $50 on every enrollment!*
This new program will be available starting with January 1, 2023 effective dates. Be on the lookout for more details coming soon! *The VBE payment will be made for new Medicare Advantage customers and voluntary plan changes that result in Cigna customers. *The agent must be qualified as Ready to Sell in order to receive payout. *The VBE payment is an agent level payment only. If an AOC is in place, the VBE payout will be made to the agent's upline.
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Tags: Cigna, Medicare Advantage
2023 Medicare Parts A & B Premiums and Deductibles
Posted by www.psmbrokerage.com Admin on Thu, Sep 29, 2022 @ 10:13 AM
Medicare Part B Premium and Deductible Medicare Part B covers physician services, outpatient hospital services, certain home health services, durable medical equipment, and certain other medical and health services not covered by Medicare Part A. Each year the Medicare Part B premium, deductible, and coinsurance rates are determined according to the Social Security Act.
The 2022 premium included a contingency margin to cover projected Part B spending for a new drug, Aduhelm. Lower-than-projected spending on both Aduhelm and other Part B items and services resulted in much larger reserves in the Part B account of the Supplementary Medical Insurance (SMI) Trust Fund, which can be used to limit future Part B premium increases. The decrease in the 2023 Part B premium aligns with the CMS recommendation in a May 2022 report that excess SMI reserves be passed along to people with Medicare Part B coverage. Beginning in 2023, certain Medicare enrollees who are 36 months post kidney transplant, and therefore are no longer eligible for full Medicare coverage, can elect to continue Part B coverage of immunosuppressive drugs by paying a premium. For 2023, the immunosuppressive drug premium is $97.10. Medicare Open Enrollment and Medicare Savings Programs Medicare Open Enrollment for 2023 will begin on October 15, 2022 and ends on December 7, 2022. During this time, people eligible for Medicare can compare 2023 coverage options between Original Medicare, and Medicare Advantage, and Part D prescription drug plans. In addition to the soon-to-be released premiums and cost sharing information for 2023 Medicare Advantage and Part D plans, the Fee-for-Service Medicare premiums and cost sharing information released today will enable people with Medicare to understand their Medicare coverage options for the year ahead. Medicare health and drug plan costs and covered benefits can change from year to year, so people with Medicare should look at their coverage choices annually and decide on the options that best meet their health needs. To help with their Medicare costs, low-income seniors and adults with disabilities may qualify to receive financial assistance from the Medicare Savings Programs (MSPs). The MSPs help millions of Americans access high-quality health care at a reduced cost, yet only about half of eligible people are enrolled. The MSPs help pay Medicare premiums and may also pay Medicare deductibles, coinsurance, and copayments for those who meet the conditions of eligibility. Enrolling in an MSP offers relief from these Medicare costs, allowing people to spend that money on other vital needs, including food, housing, or transportation. People with Medicare interested in learning more can visit: https://www.medicare.gov/your-medicare-costs/get-help-paying-costs/medicare-savings-programs. Medicare Part B Income-Related Monthly Adjustment Amounts Since 2007, a beneficiary’s Part B monthly premium is based on his or her income. These income-related monthly adjustment amounts affect roughly 7 percent of people with Medicare Part B. Medicare Part A Premium and Deductible Medicare Part A covers inpatient hospital, skilled nursing facility, hospice, inpatient rehabilitation, and some home health care services. About 99 percent of Medicare beneficiaries do not have a Part A premium since they have at least 40 quarters of Medicare-covered employment. The Medicare Part A inpatient hospital deductible that beneficiaries pay if admitted to the hospital will be $1,600 in 2023, an increase of $44 from $1,556 in 2022. The Part A inpatient hospital deductible covers beneficiaries’ share of costs for the first 60 days of Medicare-covered inpatient hospital care in a benefit period. In 2023, beneficiaries must pay a coinsurance amount of $400 per day for the 61st through 90th day of a hospitalization ($389 in 2022) in a benefit period and $800 per day for lifetime reserve days ($778 in 2022). For beneficiaries in skilled nursing facilities, the daily coinsurance for days 21 through 100 of extended care services in a benefit period will be $200.00 in 2023 ($194.50 in 2022). ![]() |
Tags: Medicare Part A, Medicare Part B, 2023
2022 AAHU Golf Tournament Recap
Posted by www.psmbrokerage.com Admin on Wed, Sep 28, 2022 @ 11:19 AM
PSM was a proud sponsor of this years AAHU Golf Tournament held at Balcones Woods country club in Austin. It was a wonderful event and a great opportunity to network with other insurance professionals and discuss the changes shaping our industry. We appreciate all those who attended and contributed and can't wait for next years event!
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Tags: AAHU
YourMedicare SunFire Daily Webinars
Posted by www.psmbrokerage.com Admin on Wed, Sep 28, 2022 @ 10:24 AM
YourMedicare SunFire Daily Webinars Starting this Wednesday, YourMedicare will be hosting daily webinars specifically going over the new call recording technology in YourMedicare SunFire. They will all be at 2:00 EST. YourMedicare will cover the setup process, how to use the new feature and answer all of your questions! This is a reoccurring event so there is no registration required. Join us every Wednesday at 2:00 EST. You can also learn more by attending one of our weekly webinars. View schedule
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Tags: Medicare Advantage, AEP, SunFireMatrix, Compliance, MyMedicareBot, call recording
Sunfire: Telephony System is LIVE!
Posted by www.psmbrokerage.com Admin on Fri, Sep 23, 2022 @ 09:56 AM
YourMedicare SunFire users, Today is the day! Be sure to log in and establish your new virtual phone number. Here is a step-by-step guide:
To register for a webinar go to https://yourmedicareresources.com/webinars/ To register for the SunFire Platform, request details here.
New CMS Requirement
Effective October 1, 2022 Field Agents will be required to record all sales and marketing calls in their entirety. The recordings must be retained in a HIPAA compliant manner for 10 years. View details on the new CMS rule here.
This pertains to calling leads, scheduling appointments, collecting drug and provider lists and conducting phone enrollments. ![]()
Only in person, face to face appointments are excluded, however any follow up calls related to sales and completing the enrollment process must be recorded.
Additionally, a new disclaimer must be verbally conveyed within the first minute of a sales phone call.
Now is a great time to make sure you have access to Sunfire's enrollment platform and have a solution in place for the upcoming 2023 AEP.
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Tags: Medicare Advantage, CMS, AEP, SunFireMatrix, Compliance, 2023
American Home Life Patriot Series | Now Available in FL & PA
Posted by www.psmbrokerage.com Admin on Fri, Sep 23, 2022 @ 09:05 AM
Great news! Effective today, agents are now able to offer AHL’s Medicare Supplement & Patriot Series Final Expense plans in Florida & Pennsylvania!
Whether your client needs Final Expense or Medicare Supplement, American Home Life has exactly what they need. Our Patriot Series Final Expense product is available to provide flexible coverage to meet your client's unique needs and our Medicare Supplement product offers Plans A, F, G, and N with varying amounts of coverage. Patriot Series Final Expense The Patriot Series Final Expense offers 4 plans to best meet your clients needs. Three level plans and one modified plan are all available with flexible coverage options. Medicare Supplement The American Home Life Insurance Company also offers Medicare Supplement plans. Plan A provides basic benefits, while Plan F offers more comprehensive coverage. With more tools for agents, and benefits for customers, this offer is almost two good two be true. Request product details and contracting today.
American Home Life's "Shoot for the Stars" Producer Incentive Program is now live! To earn your $500 , all you have to do is write at least four policies before October 14th.
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Attention: Humana Introducing the new 2023 Honor Plans
Posted by www.psmbrokerage.com Admin on Thu, Sep 22, 2022 @ 03:37 PM
Serving those who've served Humana’s long-standing support of our nation’s active-duty military and veteran communities dates back decades. It’s why we continue to make veteran health and wellness a priority. That dedication to service helped us earn USAA’s recommendation on our 2023 Medicare Advantage plans. And it’s why we worked with USAA to develop the all-new Humana USAA Honor with Rx plan especially designed with veterans in mind and available to anyone eligible for Medicare. These plans complement and work alongside benefits that veterans may receive from the VA.
Hold onto your hats—our 2023 Humana Honor Plan news is big. Check it out.
*As a reminder, agents are prohibited from marketing or communicating 2023 plan information prior to Oct. 1.
![]() Discover the new Humana USAA Honor with Rx plan in 8 states Specially designed in collaboration with USAA, this new $0 premium Medicare Advantage plan with prescription drug coverage helps beneficiaries get the coverage they need at the doctor and the pharmacy. It was built to meet the unique needs of veterans, and it's available to anyone eligible for Medicare. Prescription coverage
Additional features that make this plan unique
Available in 1,095 counties in 8 states The Humana USAA Honor with Rx plan is available throughout Pennsylvania and in select markets in Texas, Michigan, Ohio, Indiana, Arizona, California and Hawaii.
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Tags: Humana, Medicare Advantage plans
House passes bill to install electronic prior authorization in Medicare Advantage plans
Posted by www.psmbrokerage.com Admin on Thu, Sep 22, 2022 @ 03:03 PM
The House unanimously passed the Improving Seniors’ Timely Access to Care Act on Wednesday via a voice vote. The legislation, which has new transparency requirements for MA plans, now heads to the Senate. Lawmakers behind the legislation said in a joint statement the bill will “make it easier for seniors to get the care they need by cutting unnecessary red tape in the healthcare system,” said Reps. Suzan DelBene, D-Washington, Mike Kelly, R-Pennsylvania, Ami Bera, M.D., D-California, and Larry Bucshon, M.D., R-Indiana. Prior authorization—where providers must first get insurer approval before performing certain services or making prescriptions—has increased in recent years much to the chagrin of providers who charge the process causes a massive administrative burden.
The House bill aims to require the establishment of an electronic prior authorization process for all MA plans to hasten the approval of requests. It would also require the Department of Health and Human Services (HHS) to create a process for faster, “real-time” decisions on the items or services that already get routinely approved.
Another new requirement is that MA plans must report to the federal government on how they use prior authorization, as well as the rate that such requests are approved and denied. The requirement comes as HHS’ watchdog found that MA plans have denied prior authorization claims for services that met Medicare’s coverage requirements. The overwhelming House vote earned plaudits from several provider groups. “At a time when group practices face unprecedented workforce shortage challenges, 89% of [Medical Group Management Association] members report they do not have adequate staff to process the increasing number of prior authorizations from health insurers,” the Medical Group Management Association said in a statement. “By streamlining and standardizing the overly cumbersome and wildly inefficient MA prior authorization process, this legislation will return a focus to the physician-patient relationship.” ![]() |
Tags: Medicare Advantage plans
You work hard all year, but especially during the AEP/OEP season. We would like to show our appreciation for your dedication to Ameritas and our individual dental products with this bonus program. Program details:
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Tags: ameritas, dental plans, Incentives
WIN BIG Sell Medicare Supplement policies with American Benefit Life and Capitol Life, and you could win big. The more qualified applications you submit, the more you can earn. At the conclusion of the contest period, select your prize – a trip to Las Vegas or a cash payout.
Feeling lucky? Contact us at 800-998-7715 to learn how you can win big.
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Commentary: CMS Medicare recording requirement could risk senior data
Posted by www.psmbrokerage.com Admin on Wed, Sep 14, 2022 @ 10:55 AM
By Joshua Brooker Starting Oct. 1, the Centers for Medicare and Medicaid Services will require health insurance agents and brokers to record all Medicare-related phone calls. At face value, having a recording of a call sounds like a great way to catch bad actors who misinform seniors about their options pertaining to Medicare. Here is my question to you, though: If I were to ask you to start recording all calls tomorrow, and do so securely as well as securely store the calls for 10 years, how would you do it? If your answer is, "I'm not sure," then we have a problem. Because that is exactly what the government is doing. They have advised the insurance agent and broker community, of which there are 100,000 self-employed mom-and-pop agencies across the country helping Americans, to record all calls but provided no guidance or support to do so. Why is this happening?Whether an individual is nearing age 65, or already has been on Medicare for years, there is no denying the onslaught of information they receive every day about Medicare, the plans they have access to, and the push for them to "act now.” According to the Federal Registry, in 2022, CMS reported 39,617 "complaints to Medicare" related to misinformation. This is out of 29 million enrollments. This represents only 0.0013661% of the total enrollments made during the most recent open enrollment period. Even though the complaints represent such a small number of seniors overall, CMS is trying to make strides toward fixing two things:
Consumers want to know who will receive their information upon filling out a form online or calling a toll-free number. Consumers also want to be confident that the broadest amount of plans are considered before a recommendation is made. CMS solution: proactive disclosureIn an effort to address Concern No. 1, CMS is requiring all marketing companies, as well as agents and brokers to state on their website and in the first 60 seconds of each phone call that "We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options." When a senior wants a local representative who is licensed in their state, certified to talk about Medicare, and understands the nuances of the local health systems and insurance plan options, they are looking for a resource beyond Medicare.gov and/or 1-800-MEDICARE. This disclosure does not address seniors’ underlying concerns. Another issue with this disclosure is that it doesn't tell the consumer whether the person on the line is a tethered/captive insurance agent, a marketing/lead generation company, or an untethered independent broker. Nor does it tell consumers the scope of options available to the consumer. If a given county has 70 plans available, and the person on the other end of the line has access to three plans, I think that there is a cause for disclosure. That said, some plans tied to special needs, only available only to captive agents might cause someone to have 65 plans available. Both scenarios require the same disclosure, and while the former (three plans) is alarming, the latter (65 plans) is understandable. CMS solution: call recordingAlthough CMS is hopeful that disclosure will inform individuals about their options, the agency also requires all tethered and untethered agents as well as lead generation companies to record calls. Actually, tethered agents tied to insurance company call centers, and lead generation companies already have this requirement. The May 9, 2022, rule added independent, untethered brokers to this recording requirement. Related Article: Call Recording Making Your Head Spin? As we have discussed, independent brokers are untethered insurance brokers who have the broadest plans from which to make recommendations, are licensed to interpret insurance laws, and do not operate as middlemen who sell your information like lead generators for other tethered or insurance companies. Untethered brokers are small businesses entrenched in their communities whose clients come from many sources, such as current clients, other insurance brokers, financial advisors, employers and human resource directors. Issue #1: small business requirements According to the Bureau of Labor Statistics, a broker's median wage is $49,840 per year. They aren't the upper crust of the insurance industry who can receive seven-figure salaries. Rather, as an individual in their community, they are being required to seek and deploy software to record all calls related to Medicare. The government failed to consider the limited resources of these individuals, and neither larger agencies nor insurance companies are tasked with providing support. Instead, the burden falls on the individual broker who must find software, set it up, record all calls, store all calls and make them available to regulators at a moment's notice, all while being secure in the process. When laws are passed by government agencies, if they are a burden to small businesses, they must make accommodations for those entities that are impacted the most. Not only are they adding a burden for the broker community to add compliant software, but they are also requiring that same agent or broker to tell every person they speak to on the phone to get their needs met elsewhere (medicare.gov and 1-800-MEDICARE). Issue #2: risking senior data Another issue to consider is the likelihood of compromised senior data. Alissa Knight, a partner at Knight Ink Media, is a chief information security officer and cybersecurity expert. She was a keynote speaker at a national Health Information and Management Systems conference. On a recent podcast, she said, "Electronic health records are worth 1,000 times more than a U.S. credit card number." She went on to explain, that if your credit card is stolen, your bank can send you a new card and you're fine. If your health history is compromised (accessed from one of these storage sites) and put on the dark web to sell, "how easy it is to get new health history sent to you in the mail? You can't. It's gone. If I want to figure out how to kill Larry, I find his protected health information, and I find out he is allergic to bee stings, I go after him with some bumblebees." In a phone call, not only might a recording include information about the individual on the phone, but seniors routinely talk about their spouses, kids, grandkids and other individuals. All of these could open up calls to not one, but multiple data points being at risk. Knight said health data is "such a lucrative business to be in." Obviously, she is looking at ransomware attacks. She goes on to state, that if a hacker is "targeting something like a Cerner EHR system [like data stored by a hospital or insurance company], that may be very well protected and very secure." If there is a less secure system outside of these secure programs, "where do you think I'm going to target as a hacker? I'm going to target the less secure. I'm going after the path of least resistance." Medicare represents more than 60 million seniors. Without defined policy and infrastructure in place, brokers are the path of least resistance. With 100,000 agents and brokers trying to figure out how to comply, this risk for anyone is dangerous. The current requirement to record calls is in the spirit of helping beneficiaries. We worry that the risk of senior data being exposed egregiously outweighs the risks of not recording calls. RecommendationsFirst, we'd like to address the spirit of the law. As independent brokers who have more than 50 insurance company contracts, and are entrenched in our community, we stand by regulations that serve the consumer’s best interest. At the end of the day, we often must address the same misinformation and complaints that Medicare deals with directly, and we work on the front lines to get Medicare right. This is why we are commenting on this rule. And, rather than pointing fingers, we offer real-world solutions.
Some tethered contracts require the agent to not get appointed to plans not available through the insurer, or their dedicated system. These clauses should be known to help identify tethered entities. This rework would tell the consumer who is receiving their data and which options the company is presenting against the total options of the market. Joshua Brooker, REBC, ABHP, ASFC, is principal at PA Health Advocates, Lancaster, Pa. He is a member of the National Association of Health Underwriters and Health Agents for America.
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Tags: CMS, Compliance, call recording
Mutual of Omaha: The Annual Enrollment Period Buzz is Getting Louder
Posted by www.psmbrokerage.com Admin on Tue, Sep 13, 2022 @ 02:12 PM
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Tags: AEP, mutual of omaha, 2023
Earn a trip to St. Thomas by selling Cigna Supplemental Benefits
Posted by www.psmbrokerage.com Admin on Mon, Sep 12, 2022 @ 02:52 PM
Get ready to claim your place on the Cigna Supplemental Benefits Caribbean sunsets. First-class accommodations. Top-notch amenities and tropical adventures in the sea and sand. The time to bask in the rewards of our partnership is finally here. Cigna Supplemental Benefits will host its top producers and their guests for a five-day, four-night trip that eclipses other trips of its kind. When: June 8–12, 2023 Where: The Westin Beach Resort & Spa at Frenchman's Reef Who: Qualifying agents, recruiting agencies and NMOs Sell Cigna Medicare Supplement products and these Cigna Supplemental Health products: Flexible Choice Cancer; Flexible Choice Heart Attack & Stroke; Flexible Choice Dental, Vision & Hearing; Flexible Choice Hospital Indemnity; Accident Treatment; Cancer Treatment; and Individual Whole Life insurance policies. ![]() |
Tags: dental hearing and vision insurance, Cigna Medicare Supplement, dental, Cigna Supplemental
YourMedicare Solutions for CMS's Call Recording & Disclaimer Rules
Posted by www.psmbrokerage.com Admin on Mon, Sep 12, 2022 @ 01:33 PM
As a friendly reminder, Precision Senior Marketing provides smart and efficient ways for you to stay compliant this AEP. In partnership with two of the industry’s leading technology companies, MyMedicareBot and SunFire, you have access to CMS-compliant call recording solutions.
You can also learn more by attending one of our weekly webinars. View schedule.
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Tags: Medicare Advantage, AEP, SunFireMatrix, Compliance, MyMedicareBot, call recording
Climb to the Top With Plan "N" Benefits
Posted by www.psmbrokerage.com Admin on Mon, Sep 12, 2022 @ 08:48 AM
For your clients, Plan N is that well-worn, predictable path that gives them the protection they need with premiums they'll love. For those looking to save, our Plan N rates are some of the best in the industry. It covers everything Plan G does except small copays and the rare excess charges, and its predictable out-of-pocket cost helps keep premiums low — especially thanks to our household discount. Your secret weapon ... household discount For adults living together, our household discounts are like teriyaki beef jerky at 20,000 feet. Our 12% discount — available in most states — has some of the least restrictive eligibility requirements in the industry, so most people will qualify. See the application for each state's specific requirements. Not appointed to sell Mutual of Omaha Medicare Supplements? Request details. ![]() |
Direct Mail: Emerging Market and Product Trends
Posted by www.psmbrokerage.com Admin on Fri, Sep 09, 2022 @ 04:34 PM
Direct mail. A great lead source. A continually changing landscape.Are you considering a direct mail campaign for your business and wondering if it’s worth the investment? Even with the wide range of digital advertising platforms, the benefits of direct mail marketing make it an appealing and extremely viable option. Direct mail boasts better response rates, greater visibility, and more creative opportunities than online efforts, so it should be a key component of any marketing campaign. ![]() |
Tags: direct mail, Marketing
4 Racing Tips to Help You Win This AEP
Posted by www.psmbrokerage.com Admin on Fri, Sep 09, 2022 @ 11:13 AM
4 Racing Tips to Help You Win This AEP
TIP #1: STUDY THE COURSE
Keep your book of business organized from day one. Know the plans and products available to you so that you’ll have time to map out a strategy. The more you can prepare now, ahead of Oct. 15, the less you’ll be scrambling at go-time. It’s also important to lighten your load at home. Knowing your work will become much busier in October can be helpful when planning your work-life balance for the next few months. Consider any potential personal commitments or important family holidays — like Thanksgiving — now. Plan ahead and minimize your stress during AEP. TIP #2: START YOUR ENGINES
Friendly, pre-AEP reminders to Medicare beneficiaries are a great way to get ahead. Just remember: Communications can’t include anything specific regarding plans, like pricing or benefit details. AEP lasts 54 days. It’s a race to Dec. 7, where your focus could be the difference between achieving your goals and not. How are you planning to fuel your growth this year with a goal of 25% YoY growth in your submitted app count? TIP #3 STAY EFFICIENT
Leverage available technology for important services like scheduling and comparing plans. You have access to the YourMedicare Enrollment Center — a multicarrier platform where agents can compare plans, get quotes and enroll their clients. Agents have turned to the YourMedicare Enrollment Center as their “goto” platform for enrolling beneficiaries into Medicare Advantage and Part D prescription drug plans. And with AEP coming up, using the YourMedicare Enrollment Center is a double win: For every submitted application mad through the platform, YourMedicare donates at least 10 meals to Feeding America. With more than 550,000 meals donated already, YourMedicare is well on its way to reaching its goal of donating 1 million meals in 2022. Agents also have access to YourFMO.com, a one-stop shop for growth with Medicare TIP #4 ALWAYS LOOK AHEAD
Remember: Your contacts are also someone else’s prospects. If you’re not planning ahead, chances are, someone else is. Year-round communication can help you stay top of mind. Try things like birthday cards, newsletters or quarterly mailers. The simple act of following up can help create lifelong customers and relationships. And remember to keep preparing for AEP all year long. When one AEP ends (or even during this AEP), start thinking about the next. Mastering the art of the AEP sale comes with practice. As you find what serves the client’s best interest, you’ll build on your success and your business will thrive. Have a great 2023 AEP! ![]() |
Tags: Medicare Advantage plans, Medicare Advantage News, CMS, Compliance, call recording
Coming Soon for AEP! YourMedicareSunFire Recording Capabilities
Posted by www.psmbrokerage.com Admin on Fri, Sep 09, 2022 @ 10:29 AM
On that day, the Centers for Medicare and Medicaid Services (CMS) released its 2023 Final Rule, and in this extensive document, there are two important guidelines we’d like to highlight in a more simplified manner. New Required Disclaimer
Aside from that, this disclaimer needs to be added to any previously approved materials and resubmitted to CMS for approval. Calls With Beneficiaries Must Be Recorded Agents making calls to beneficiaries must record ALL calls in their entirety. In addition, This includes calls that are part of the chain of enrollment into a Medicare Advantage or This rule applies to telephonic conversations only, not face-to-face meetings. The YourMedicare team was well aware of this change and immediately took action in
This is just the beginning of what is to come. As new information becomes available, we’ll keep you updated on all new enhancements, news and more specific details ![]() |
Tags: Medicare Advantage, Medicare Part D, Prescription Drugs, AEP, SunFireMatrix, Compliance, 2023, call recording
Set for Launch - Compliance Tips for AEP
Posted by www.psmbrokerage.com Admin on Thu, Sep 08, 2022 @ 12:39 PM
As you are well aware, agents will juggle vast amounts of activity during this time. Unintended actions may be a pathway to making compliance mistakes, which may derail the AEP application process. Before we lift off into a new AEP season, let's consider a few significant points related to compliance in order to remain on the right trajectory for a successful launch. Scope of Appointments detail the exact topics beneficiaries would like to discuss with an agent. CMS requires agents to have beneficiaries sign an SOA prior to discussing Medicare Advantage or Part D Prescription drug plans. Every appointment with a beneficiary requires an SOA and these forms must be kept on file for 10 years, even if the appointment doesn't result in a sale. Also, starting this year, a new CMS ruling requires agents to read a disclaimer to all potential clients at the beginning of a sales call. Reading this during the SOA process is an optimal time for this disclosure. These calls must be recorded and stored for 10 years.
Before agents can help a client with a Medicare plan, they must know the physicians and the specialists a client sees for their healthcare services. Many beneficiaries are happy with their healthcare providers and don't want to change. Compare their current providers with the providers in the plan's network to ensure there isn't a disruption in services. It's important to review a client's prescriptions in order to help them clearly understand the cost of drugs for a particular plan. An unexpected increase in drug prices can quickly turn an exceptional client experience into an unsatisfactory one. Make sure to review enrollment data with your clients, this way, if there is an error, you can fix it on the spot rather than having the application returned. Reviewing a client's prescriptions will ensure they are given options for the most comprehensive coverage for their individual needs. A Summary of Benefits must be provided to beneficiaries at the time of enrollment to provide clarity regarding coverage. Although beneficiaries will receive a hard copy of this document after enrollment, agents must summarize key features such as covered benefits and cost sharing. The Summary of Benefits needs to be thoroughly discussed prior to signature-collection and verification of intent-to enroll. Agents are certainly busy during AEP and sometimes put off submitting an application to a carrier. This can result in the application not being submitted in the required 24-48 hour time frame. An agent's primary responsibility is to ensure a clients' insurance needs are met. It's important to take the extra time and double check to make sure your clients' applications have been taken care of within this time frame. ![]() |
Tags: Medicare Advantage, Medicare Part D, Prescription Drugs, AEP, Compliance, 2023
Celebrity Medicare Sales Pitches Are Toned Down After Scrutiny
Posted by www.psmbrokerage.com Admin on Wed, Sep 07, 2022 @ 04:25 PM
Soaring complaints and aggressive sales efforts result in tighter rules from regulatorsIf it’s football season, you can count on seeing Joe Namath on television, along with William Shatner and Jimmie “J J” Walker. They are the most prominent pitchmen for what has become an annual fall selling frenzy for Medicare Advantage policies. After a surge in consumer complaints, and stiffer government rules, the sales pitches will likely be tamer this year. If there is confusion, “we’ll change things so it satisfies everybody and eliminates the confusion,” said Mr. Shatner, best known for his role as Captain Kirk in the “Star Trek” franchise The federal Centers for Medicare and Medicaid Services toughened its oversight after consumer marketing complaints surged 165% last year to 41,136 compared with 2020. Brokerages, agents and other marketing businesses tried to convince Medicare recipients to switch plans, with promises of perks in their new plans such as home-delivered meals, rides to doctors’ appointments and cash. In some cases, beneficiaries would effectively pay for the perks with more-limited provider networks, forcing them to find new doctors, regulators say. The celebrity pitchmen haven’t been accused of violating any rules. The aggressive sales efforts by marketers are the result of billions invested by private-equity firms, financial-services companies and stock-market investors into virtual call centers, internet-based lead-origination firms and other marketing businesses over the past several years. The investors all focused on the annual sign-up period for Medicare Advantage plans, which are an alternative to the traditional fee-for-service Medicare plans. Enrollment in the plans, which are offered by private insurers and paid for by the government, grew 8% last year to 28.4 million in 2022, according to the Kaiser Family Foundation. Consumers can sign up for new plans every year, making them a prime opportunity to generate sales commissions for brokers. “Seniors are being bombarded,” said Ron Henderson, a deputy insurance commissioner in Louisiana. The sign-up period runs from Oct. 15 to Dec. 7. The stiffer rules are targeted at marketers that sell policies on behalf of health insurers. They will need to disclose more to their customers while CMS clarified that insurers will be responsible for what their marketers say. ![]() |
Tags: Medicare Advantage plans, Medicare Advantage News, CMS, Compliance, call recording
Medicare 2023: What Agents and Clients Need to Know
Posted by www.psmbrokerage.com Admin on Wed, Sep 07, 2022 @ 04:07 PM
Many of the general rules governing Medicare remain the same, said Harriett, though some plans and benefits will change. Some rules are specific to agents while others may be helpful to their clients. However, Harriett said, there are always a few general rules agents need to know when dealing with clients. Here is an overview of what agents need to know for 2023, according to Harriett: General enrollment period dates have changedThere are a number of reasons someone did not enroll in Medicare when he or she was first eligible. In that case, most reasons qualify them to enroll during a Special Election Period, Harriett said. But some people who did not enroll when they were first eligible and had no special election period were restricted to enroll only between Jan. 1-March 31 of each year, with their effective enrollment date beginning July 1. This year, things have changed. For those paying for Medicare Part A, and for those enrolling in Part B, Harriett said, their effective date will be the first day of the month after they enroll. Applicable penalties will still apply. Coverage gap continues to get smallerThe Medicare Part D Prescription Drug program has always had a phase, known as the coverage gap (previously known as the “doughnut hole”). This is a period in prescription-drug coverage when a client’s coverage is reduced if costs escalate to a certain point, and the client pays more for a period of time. Since its inception, Harriett said, the coverage gap has been a point of political contention, with several attempts over the years to fix the burdens this gap created for those who need expensive drugs. In the last few years, Medicare has broadened the definition of “True out of Pocket Costs,” including how the gap is calculated. Now, once in the coverage gap, drug manufacturers pay 70% of the cost of a drug, the insurer pays 5%, and the client covers 25%. But 100% of those costs count toward the beneficiary’s total spending, which gets them out of the gap more quickly and into catastrophic coverage. For example, Harriett explained, a drug with a true cost of $100 in the coverage gap would be paid as follows: The manufacturer covers $70, and the insurance company pays $5. The beneficiary is responsible for $25. But the Explanation of Benefits will show that the beneficiary has paid $100 in out-of-pocket costs. Disclosures must increaseThe huge number of marketing calls from call centers in recent years has led to a striking increase in the number of complaints to the Centers for Medicare and Medicaid Services (CMS) regarding AEP enrollments. Because of this, there have been a few alterations to the rules, Harriett said. This year, marketing organizations must disclose when and if their information is being transferred to a licensed agent (if they were not talking with one originally). Also, there is a new general disclaimer, which must be read to all beneficiaries within the first minute of their telephone call to agents. A full copy of this disclaimer can be found in the insurance company’s Medicare Advantage/PDP compliance bulletins, Harriet said. Marketing, enrollment calls must be recordedAs the rules stand today, all calls that market and enroll beneficiaries in Centers for Medicare and Medicaid Services (CMS)-regulated Medicare products must be recorded from beginning to end and stored safely and securely for at least 10 years. “How this will look in the future is anyone’s guess as it is being challenged by a number of organizations,” Harriett pointed out, “but it appears that for now, the rule is here and will be in place. So, if you are going to be marketing products during AEP, be sure to set up a recording system. If you won’t be marketing, be sure to tell your clients they will be recorded when they talk with someone about it.” The call recording is a big change, Harriett said. But apart from the general change in Medicare costs or numbers (the bulk of which will most likely not be published until at least the end of October), many things in Medicare carry over from this year, Harriett said. “But that does not mean you or your clients should relax,” she said, adding “Always check over benefits with your clients. Prescription drug plans and Medicare Advantage plans change each year. And next year’s plan may not meet your client’s health or financial needs for 2023.” Always use this opportunity to talk to everyone about it.”
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Tags: Medicare Advantage plans, Medicare Advantage News, CMS, Compliance, call recording
3 ways to navigate the new CMS call recording rules
Posted by www.psmbrokerage.com Admin on Thu, Sep 01, 2022 @ 04:51 PM
It’s 2008, and the Centers for Medicare & Medicaid Services just published what quickly would be deemed as “industry-shaking” new Medicare communication and marketing guidelines. From rules regarding scopes of appointment and other requirements intended to clean up poor business practices, many marketers and agents were beside themselves. A palpable panic began to emerge as we scrambled to understand the implications of these new rules to our businesses, our client engagements and our future prospects. Let’s face it – we were living perfectly fine before these rules were published and our industry was riding high. But these new rules weren’t just some one-off requirement. They were a watershed moment for our industry, and they started a cascade of new guidelines from CMS designed to protect consumers and help agents maintain credibility, transparency and trust with those very consumers. Fast forward to today and we find ourselves in a similar position with CMS’s recently published requirements regarding call recordings. As in 2008, I’ve received many of the same questions: “How will this impact me and my business?” “What tools or resources are available to help me do this?” and “What does this mean for engagements with existing clients versus prospective clients?” These are perfectly understandable questions for agents to ask. Compounding the confusion and hard feelings is the notion that CMS likely implemented these new rules in reaction to one particular bad actor and now we all have to deal with the repercussions (not to mention the vagueness of the rules themselves and their release so close to the all-important annual enrollment period selling season). Many of us remember a time when door-knocking dominated our industry, and face-to-face interaction played a vital role in developing client trust. But as we’ve shifted to telephone and e-selling approaches, you can’t help but feel as though today’s agents are being punished for the natural evolution of our industry and consumer engagement. However, rather than continue to bemoan yet another layer of compliance, it’s important to see the opportunity in front of us. Simply put, we always can do better. The biggest threat to our business always has been the commoditization of the agent-consumer relationship, and these rules help ensure that we continue to be perceived and operate as the trusted advisors we need to be.
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Tags: Medicare Advantage plans, Medicare Advantage News, CMS, Compliance, call recording
Devoted Health is now LIVE on SunFire
Posted by www.psmbrokerage.com Admin on Thu, Sep 01, 2022 @ 02:10 PM
You asked for it! Devoted Health is now LIVE on SunFire Independent agents play a vital role in helping seniors secure the most cost-effective Medicare plans for their individual needs. This comprehensive tool simplifies the sales process with multi-carrier shopping and enrollment platforms wrapped into a single online experience. And best of all, this platform is available at no cost to PSM agents.
Welcome to a new era in Medicare enrollment
PSM has teamed up with YourMedicare ℠ to bring you a revolutionary new tool to write more Medicare business. With our all-inclusive platform, you can sell Medicare plans on your terms. Offer top carriers, receive the best commissions, all with industry-recognized service and support. Staying compliant is more important than ever! Effective October 1, 2022 Field Agents will be required to record all sales and marketing calls in their entirety. The recordings must be retained in a HIPAA compliant manner for 10 years. View details on the new CMS rule here. This pertains to calling leads, scheduling appointments, collecting drug and provider lists and conducting phone enrollments. Only in person, face to face appointments are excluded, however any follow up calls related to sales and completing the enrollment process must be recorded. Additionally, a new disclaimer must be verbally conveyed within the first minute of a sales phone call. Now is a great time to make sure you have access to Sunfire's enrollment platform and have a solution in place for the upcoming 2023 AEP. |
Tags: Online Enrollment, medicare enrollment, Devoted Health, YourMedicare, SunFireMatrix